There are, as we know, many things that set human beings apart from others, but in all honesty, our willingness to become better stands out with unmatched ease. You see, when you are able to grow under every possible situation, you basically end up giving yourself a chance at achieving some unprecedented milestones. Talk about the milestones we have stumbled upon so far, each one has added to our lives in its own unique way. However, despite their uniqueness, we are still yet to see anything like technology. Technology seems like such an anomaly here for reasons that go beyond its ingenious skill-set. Instead, they also talk at length to the manner in which the creation used those skills for impacting our entire spectrum. The latter was so important, as it allowed different disciplines to grow on the back of what was a concept no one had ever seen before. This expectantly produced many beneficiaries over time, and one among them is going to be our medical sector. Technology’s linkup with healthcare was pivotal because it came at a time when the sector was literally struggling due to an outright obsolete structure. By instilling new ideas, the stated linkup was wholly successful in building a new healthcare identity, an identity that was all about being patient-centric. In fact, even after doing so, it would continue to conceive more and more progressive inroads along the way. The said element was clearly evident in one recent acquisition.
Becton Dickinson, a leading global medical technology company, has officially acquired Parata Systems, an innovative provider of pharmacy automation solutions, for a sum of $1.525 billion. As per certain reports, the deal is supposed to help BD gain a hold on Parata’s robotic systems, which are designed to sort and package pills, therefore automating many manual procedures that we usually associate with the pharmacy business. Founded in 2001, Parata has remained focused on using smart solutions to remedy various pharmacy-related factors, including clinician shortages, wage inflation, and centralization of pharmacy services. This experience, along with a proven capability, was really what convinced BD that the acquisition will help it in making a big step-up across areas like acute care health systems, retail pharmacies, long-term care, and home settings. Now, if we look at the financial aspect, the acquisition also provides BD with $600 million worth of market potential, which is only expected to grow and hit $1.5 billion over the next 10 years.
“Parata expands BD’s solutions to a new area of the high-growth pharmacy automation space and is a prime example of BD executing our disciplined M&A strategy,” said Tom Polen, chairman, chief executive officer and president of Becton Dickinson. “Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability and returns. With the addition of Parata, BD further advances our 2025 growth strategy around smart, connected care and enabling new care settings.”
